LONDON–(COMMERCIAL WIRE)–KKR, a leading global investment firm, today announced that KKR has agreed to acquire Clinisupplies, the UK market leader in continence care products, from Healthium. The Clinisupplies management team will continue to occupy a minority position. Financial details of the transaction were not disclosed.
Clinisupplies is a UK based manufacturer and distributor of continence care products including urine collection devices and catheters. Clinisupplies products are supplied to hospitals and pharmacies, while they are also available for delivery to patients directly through their home delivery services: “Clinidirect”. Clinisupplies is headquartered in Watford, London and employs over 400 staff.
Claus Bjerre, KKR Senior Advisor and former CEO of Atos Medical AB and former President of Coloplast North America, will serve as Chairman of the Clinisupplies Board of Directors, where he will draw on his extensive industry experience and help guide the group . about its future growth. In addition to leveraging KKR’s broader network of advisors and experts, industry veteran Douglas Le Fort, who brings more than 20 years of senior executive leadership experience, including as a member of the Executive Committee at ConvaTec Group, will also join the Board of Directors.
Paul Cook, CEO of Clinisupplies, commented: “We are delighted to form this strategic partnership with KKR and to welcome Claus and Douglas to our Board. This transaction presents a critical growth opportunity for the business, and being able to leverage their collective skills and knowledge will be invaluable as we position the business for the future. With KKR’s global network and market knowledge, and with this strong set of industry advisors, we will be able to expand into new products and geographies, helping support more and more people and moving one step closer to our goal of becoming a an international leader. in the chronic care market.
Claus Bjerre, Senior Advisor at KKR, commented: “Clinisupplies has an industry leading track record as a fully integrated provider of continence care solutions to clinics and patients across the UK. Its business model covers the entire value chain, from R&D and manufacturing to direct-to-patient sales and distribution, enabling the group to continually understand and address the changing needs of patients, physicians and caregivers alike. I look forward to working with the outstanding Clinisupplies management team in achieving their ambitious growth plans.”
Kugan Sathiyanandarajah, Managing Director and Head of Europe at KKR Health Care Strategic Growth, said: “Clinisupplies is a proven leader in the UK collection device market with a differentiated business model. This investment is yet another example of our strategy of strategic healthcare growth platform in collaboration with proven operators in a subject area we have been following for some time. We are delighted to bring together an exceptional management team led by Paul with a highly experienced advisory team led by Claus.”
KKR is investing in Clinisupplies through the KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth healthcare companies. KKR has a long history of supporting healthcare companies globally, having invested approximately $17 billion in the sector since 2004.
KKR was advised by Houlihan Lokey (financial advisor), Gibson, Dunn & Crutcher LLP (legal advisor), PWC (financial and tax) and BCG (commercial).
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KKR is a leading global investment firm offering alternative asset management, as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the direction of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
Clinisupplies is a leading UK based manufacturer and supplier of medical devices specializing in continence products for the management of acute and chronic conditions. The company also offers a portfolio of bandages and garments for the treatment of wounds and chronic skin conditions. With over 400 employees in the UK, China and India, Clinisupplies supplies its products to the NHS and ships direct to patients’ homes through Clinidirect, its dispensing contractor.
Clinisupplies focuses on developing products that are simple and discreet to use. Their product development team works with clinicians and patients to develop a robust line of products to be manufactured in their US FDA, ISO, and CE approved facility.
please visit www.clinisupplies.co.uk for more information.